[Federal Register Volume 60, Number 213 (Friday, November 3, 1995)]
[Proposed Rules]
[Pages 55807-55808]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-27283]
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Proposed Rules
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.
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Federal Register / Vol. 60, No. 213 / Friday, November 3, 1995 /
Proposed Rules
[[Page 55807]]
DEPARTMENT OF AGRICULTURE
Commodity Credit Corporation
7 CFR Part 1421
RIN 0560-AE28
Extension of Maturing 1994 and Subsequent Crop Year Wheat and
Feed Grain Price Support Loans
AGENCY: Commodity Credit Corporation, USDA.
ACTION: Proposed rule.
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SUMMARY: This proposed rule would amend the regulations with respect to
the price support loan programs for wheat and feed grains, which are
administered by the Commodity Credit Corporation (CCC) in accordance
with the Agricultural Act of 1949, as amended (the 1949 Act), and other
acts. Implementation of the changes made by this proposed rule will
provide CCC authority to allow producers to extend maturing wheat,
corn, grain sorghum, barley, oat, and rye loans during times of
abnormal marketing conditions.
DATES: Comments must be received on or before December 4, 1995, in
order to be assured of consideration.
ADDRESSES: Comments must be mailed to Grady Bilberry, Consolidated Farm
Service Agency (CFSA), United States Department of Agriculture, room
3628, South Building, P.O. Box 2415, Washington, DC 20013-2415. All
written submissions will be made available for public inspection from
7:30 a.m. to 5:00 p.m., Monday through Friday, in room 3628, South
Building, 14th and Independence Avenue SW., Washington, DC.
FOR FURTHER INFORMATION CONTACT: Margaret Wright, CFSA, USDA, room
3627, South Building, P.O. Box 2415, Washington, DC 20013-2415,
telephone 202-720-8481.
SUPPLEMENTARY INFORMATION:
Executive Order 12866
This proposed rule has been determined to be significant and was
reviewed by OMB under Executive Order 12866.
Federal Assistance Program
The title and number of the Federal Assistance Program, as found in
the Catalog of Federal Domestic Assistance, to which this rule applies
are Commodity Loans and Purchases--10.051.
Regulatory Flexibility Act
It has been determined that the Regulatory Flexibility Act is not
applicable because the CCC is not required by 5 U.S.C. 553 or any other
provision of law to publish a notice of proposed rulemaking with
respect to the subject matter of these determinations.
Environmental Evaluation
It has been determined by an environmental evaluation that this
action will have no significant impact on the quality of human
environment.
Executive Order 12372
This program is not subject to the provisions of Executive Order
12372, which requires intergovernmental consultation with State and
local officials. See the Notice related to 7 CFR part 3015, subpart V,
published at 48 FR 29115 (June 24, 1983).
Executive Order 12778
This rule has been reviewed pursuant to Executive Order 12778. To
the extent State and local laws are in conflict with these regulatory
provisions, it is the intent of CCC that the terms of the regulations
prevail. The provisions of this rule are not retroactive. Prior to any
judicial action in a court of competent jurisdiction, administrative
review under 7 CFR part 780 must be exhausted.
Paperwork Reduction Act
The amendments to 7 CFR part 1421 set forth in this proposed rule
do not contain additional information collections that require
clearance by the Office of Management and Budget under the provisions
of 44 U.S.C. chapter 35. Existing information collections were approved
by OMB and assigned OMB Control Numbers 0560-0087 and 0560-0129.
Comments
Comments are requested with respect to this proposed rule and such
comments shall be considered in developing the final rule.
Discussion
Producers with regular 9-month nonrecourse wheat and feed grain
price support loans currently are authorized extension of the loan
maturity date to such date as CCC determines necessary to participate
in the farmer-owned reserve (FOR) program conducted in accordance with
Secs. 1421.200 through 1421.217.
CCC allows producers with outstanding wheat and feed grain CCC
price support loans that mature during times of natural disasters to
request an extension of the original maturity date of such loans until
marketing and movement of commodities return to normal levels.
Although extensions are available to producers to allow
participation in the FOR program or during times of natural disasters,
producer's options are limited at maturity when these conditions do not
exist. Giving CCC the authority to extend loans during times of
abnormal marketing conditions to a date that will allow affected
producers to market such commodities in a normal manner may prevent a
significant number of loan forfeitures, strengthen markets, and
increase economic opportunities for affected producers.
This proposed rule would amend 7 CFR part 1421 to provide CCC
authority to allow producers to extend maturing wheat, corn, grain
sorghum, barley, oat, and rye loans when CCC has determined abnormal
marketing conditions are present.
List of Subjects in 7 CFR Part 1421
Grains, Loan programs/agriculture, Oilseeds, Peanuts, Price support
programs, Reporting and recordkeeping requirements, Soybeans, Surety
bonds, Warehouses.
Accordingly, 7 CFR part 1421 is proposed to be amended as follows:
PART 1421--GRAINS AND SIMILARLY HANDLED COMMODITIES
1. The authority citation for 7 CFR part 1421 continues to read as
follows:
Authority: 7 U.S.C. 1421, 1423, 1425, 1441z, 1444f-1, 1445b-3a,
1445c-3, 1445e, and 1446f; 15 U.S.C. 714b and 714c. Subpart--Rice
Marketing Certificate Program is also issued under authority of 7
U.S.C. 1441-2; 15 U.S.C. 714b and 714c.
[[Page 55808]]
2. Section 1421.6 is amended by revising paragraph (e) to read as
follows:
Sec. 1421.6 Maturity and expiration dates.
* * * * *
(e) Notwithstanding any other provision of this section, CCC may
allow producers with wheat, corn, grain sorghum, barley, oat, and rye
loans maturing during times of abnormal marketing conditions, as
determined by CCC, to extend such loans beyond the maturity date
specified in paragraph (a) of this section. If CCC determines that the
commodity pledged as collateral for such loans cannot be marketed
because of such abnormal marketing conditions, CCC may authorize such
loans to be extended to a date that will allow affected producers to
market such commodity in a normal manner.
Signed in Washington, DC, on October 26, 1995.
Bruce R. Weber,
Acting Executive Vice President, Commodity Credit Corporation.
[FR Doc. 95-27283 Filed 11-2-95; 8:45 am]
BILLING CODE 3410-05-P
